CHICAGO, July 7, 2015 /PRNewswire/ -- CME Group
Executive Chairman and President Terry
Duffy will appear before the U.S. House Committee on
Agriculture on Wednesday, July 8, to
discuss How Lifting the Oil Export Ban Impacts the Rural Economy
and Futures Markets.
"In the 1970's, the U.S. government imposed a ban on the export
of crude oil that put our nation's energy producers at a
competitive disadvantage and harmed market efficiency," said
Duffy. "Repealing this decades-old ban would strengthen the
position of the U.S. as an energy leader, benefit energy markets
through more robust price discovery, and benefit our economy by
eliminating needless barriers to trade in crude oil."
"The good news is that Congress and the Administration have the
tools to fix this and we are encouraged by the growing bipartisan
support to repeal this outdated policy. I applaud Chairman Conaway
and Ranking Member Peterson, and urge Congress and the
Administration to repeal the ban on crude oil exports and let the
market decide."
The hearing is scheduled for 10 a.m.
Eastern time in the Longworth House Office Building. Duffy's
written testimony will be available on www.cmegroup.com at that
time.
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world's leading central counterparty clearing providers through CME
Clearing and CME Clearing Europe, which offer clearing and
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These products and services ensure that businesses everywhere can
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SOURCE CME Group